Saga to acquire/merge with the AA

What an astonishing development. Quote from the BBC:

"..Saga, which sells holidays and other products to the over-50s, is to buy the motoring giant AA in a deal valuing the combined business at about £8bn.
Saga and the AA are owned by private equity groups..."

I wonder how much of this has anything to do with the business synergy between the companies. Being a suspicious person I think it most likely driven by some very fancy financial engineering by the lawyers and accountants in the private equity companies.

This news is likely to generate a hell of lot of hot air in the UK as pundits try and understand the ramifications behind the deal. Dick Stroud